The value-added of machinery manufacturing in Canada showed diverse trends from 2013 to 2023. Actual data highlights an upward trajectory until 2019, peaking at $19.614 billion CAD, followed by a sharp decline in 2020 due to external factors likely related to the pandemic. Recovery ensued in 2021, with a continued upward trend into 2023, where it stood at $20.603 billion CAD. The year-on-year variation indicated notable fluctuations, with significant drops in 2015, 2016, and 2020, and robust growth in 2017, 2018, and recovery years post-2020. CAGR over the past five years was 1.56%, suggesting moderate growth.

Future trends to watch for:

Continued recovery and moderate growth with a forecasted 5-year CAGR of 1.18%.
Technological advancements and automation impacting productivity and value addition.
Potential economic and geopolitical factors influencing global supply chains.